Hilton Head Island – Out With The Old, In With The New

Hilton Head Island is planning a neighborhood lifestyle center at Shelter Cove. Over the past several years, Hilton Head Island residents and visitors have witnessed the struggles and declining fortunes of the 30 year old Mall at Shelter Cove – not unlike the similar fate of malls across the country. Over time, it was apparent, shoppers had become discontented with the location, parking experience, maze of escalators and fluorescent ambience of an indoor mall and the concept of smaller shopping “villages” with tree-lined streets, fountains and parks stepped in to replace this experience.

Recently, a real estate affiliate of The Kroger Company, Blanchard & Calhoun from Augusta, Georgia , purchased a 42-acre parcel of land and the approximately 300,000 square feet of space at The Mall at Shelter Cove, located at 24 Shelter Cove Lane across from Palmetto Dunes. The new ownership is called The Shelter Cove Town Center, LLC.

The Mall at Shelter Cove will be torn down – except for Belk, which is currently the anchor of the mall – to make way for what developers call a “lifestyle center” – an open-air format that offers a wide range of upscale retail, office, leisure options, and living opportunities, always situated in a well located and convenient setting. Lifestyle centers are touted to be cheaper to operate than a traditional mall, the shared maintenance cost of the common areas to be one-third of a traditional mall, and offer more visibility and sales per square foot (at least a third more) for its tenants. Mark Senn, of Blanchard & Calhoun, said they will incorporate the surrounding natural environment adding park space and walking trails to the nearby waterfront. Blanchard & Calhoun is also planning on developing living options along the waterfront. The Kroger Company has developed several “super stores” called “Kroger Marketplace” in Ohio (a key feeder market for real estate and vacation rentals on Hilton Head) which not only carry groceries, but also home goods. Senn said that the new Kroger will primarily be a grocery store, but all options are still being explored.

Glynn Jenkins, director of communications and public relations for Kroger’s Atlanta Division, which includes South Carolina, stated “the new Kroger … will provide a unique and interactive shopping experience, designed to be a convenient and inviting addition to Hilton Head Island.”

Except for Belk and Kroger, there is no new name and no other tenants have been confirmed yet. But the mixed used, new urban style center will feature national and regional as well as local businesses which could include restaurants, coffee shops, healthcare, office and leisure choices.

The $17.3 million price was a bargain for the new purchasers, down considerably from the $36 and $26 million sales tags for the previous two owners. Efforts to revive the failing mall included building a 12-screen movie theatre which was approved by the Town but the financing could not be found.

Blanchard & Calhoun is currently working with the Town on plans for the site, and the next step will be to take those plans to the Planning Commission. After approval from the commission, final plans will be forwarded to the Town Council for approval. Construction is expected to begin in first quarter 2012 and the opening planned by early 2013.

Communities in and around the Hilton Head Island area that can be found on Southeast Discovery are; Belfair, Berkeley Hall, Colleton River, Hampton Hall, Hampton Lake – which are all located in Bluffton, South Carolina which is on the mainland, just over the bridge from Hilton Head along 278. To the north is Beaufort, South Carolina where Habersham is located and to the south is Richmond Hill, Georgia where The Ford Plantation is located, just 30 minutes south, near Savannah.

For more information on coastal South Carolina and communities in and around the lowcountry, send your inquiries to info@southeastdiscovery.com or call 877.886.8388 and we’ll get back to you with a prompt reply.

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